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20121108
20121108
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's second largest economy behind the u.s. the chinese government with its growing military started to flex its muscles in the region. it wrangled with asian nations over control of islands in the south china sea and east china sea. >> and joining us now is michitaka. michitaka, you were with me in the great hall of the people when president hu was giving his final speech as communist party general secretary. what do you make of his words? >> the most notable part of the speech was when president hu spoke about the concept he's long supported. he was to make scientific outlook on development one of the communist party's guiding principles. it calls for review of the party's growth and economic policy and aims to incorporate sustainable development, which takes into account social welfare and the environment, making this concept a guiding principle would be part of hu's legacy. it would give him the same status as leaders past including dung zhao ming and deng xiaoping. and it will help him maintain influence within the party after he steps down. hu also advocates during his speech that chin
with its strongest rivals such as u.s. giant general electric. damascenes missed its earnings target by a wide margin and got beaten by rivals in the number of sectors. management now plans a sweeping reform to get the company back on track. it plans to beef up core activities and sell off unprofitable units. the effect of the workforce is uncertain. >> on to the day's market action. after starting off in positive territory, european shares slipped back in afternoon trading. our correspondence sent the summary of the thursday trading session in frankfurt. and investors really liked what siemens had to say, applauding efforts to generate more profits by accelerating the efforts to save costs. it was one of the top gainers of the day, and it also supported the move in the general market for a long time. also helping that mood, the greek parliament said yes to a hard austerity program that is difficult for the population but that will bring savings of up to 13.5 billion euros. investors liked that. the mood changed, though, to the - when the ecb came through, the european central bank,
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